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Janet Yellen on Greenspan’s “irrational exuberance” speech
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Janet Yellen, former chair of the Federal Reserve and now a distinguished fellow in residence at the Brookings Institution, tells the story of how Fed Chair Alan Greenspan showed her a copy of his famous “irrational exuberance” speech in advance and, observing to him that the phrase was very late into the talk, said she thought “nobody is going to be awake by the time he gets to this.”
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